Money SA economy
The rand was in a tight range on Monday, lacking any clear direction amid a US holiday.
At 09.03am local time the rand was bid at R7.67 to the dollar, R9.64 to the euro and R11.67 to the pound. The euro was bid at $1.2544 from $1.2558 overnight.
A local trader said: "It’s very quiet today with the US on holiday. The rand is trapped in a tight range of 7.68-7.75 against the dollar," he said.
RMB analysts noted in their morning report that markets are likely to remain jittery this week, but not nearly to the same extent as last week.
Dow Jones Newswires noted a quiet market due to a US holiday later in the global day.
Players will be watching Tuesday's Institute for Supply Management Non-Manufacturing Index and Thursday's weekly jobless claims. Economists polled by Dow Jones Newswires say Non-Manufacturing Purchasing Managers' Index may log 54.9 in June from 55.4 in May.
